| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇗ |
The USD/DKK currency pair has been trading downwards within a descending channel since the end of May. The pair has already declined to the 6.7000 level.
Given that the exchange rate is pressured by the 200-hour moving average near 6.6590, it is likely that some downside potential could continue to prevail in the market. In this case the rate could decline to the Fibo 50.00% at 6.4753.
Meanwhile, note that the currency pair could gain support from the monthly S2 at 6.5361. If the given support holds, it is likely that a reversal north could occur and the pair could raise to the Fibo 23.60% at 6.7528.